Goodrich Stockholders OK UTC Buyout

Goodrich investors will receive $127.50 in cash for each share of common stock they own, a 47.4 percent premium to the closing stock price in September, when news of the acquisition reached the market. (See: UTC Buying Goodrich Corp. for $18.4B) The transaction has a value of $18.4 billion, including $1.9 billion in net debt assumed.

Upon completion of the acquisition, Goodrich will become a wholly owned subsidiary of the Hartford, Conn.-based UTC, and its operation will remain in Charlotte.

The votes cast in favor of the transaction represent 75 percent of the total outstanding shares of Goodrich common stock. The merger is set to be completed by mid-year.

“We are pleased by the support of our shareholders, which confirms our confidence in the significant value that this business combination will create for our investors,” said Marshall Larsen, chairman, president and chief executive of Goodrich.

The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...